Cirata, the data management company formerly known as WANdisco, has opened a retail share offer to allow individual investors to purchase new ordinary shares at a discounted price. The offer, made through the PrimaryBid platform, is priced at 65 pence per share, representing an 18.9% discount to the 80 pence per share price at which institutional investors recently purchased shares.
This initiative follows a successful institutional placing that saw Cirata raise approximately £18.5 million (gross). The retail offer aims to provide a broader range of investors, including existing shareholders and members of the public, an opportunity to invest in the company on preferential terms. The discount is notable, providing a clear incentive for retail participation.
The offer is open to all investors, subject to certain restrictions, and will be conducted via the PrimaryBid mobile app and website. The minimum subscription amount for retail investors is typically £250, though this can vary. Investors wishing to participate will need to register with PrimaryBid and follow the instructions provided on their platform.
The funds raised from both the institutional placing and the retail offer are intended to strengthen Cirata's balance sheet and provide working capital to support its ongoing operations and growth strategies. The company, which specialises in data replication and migration solutions, has been working to rebuild investor confidence following a challenging period in 2023.
This move is part of a broader trend among UK-listed companies to include retail investors in fundraising rounds, often facilitated by platforms like PrimaryBid. It allows companies to tap into a wider pool of capital and democratise access to share offerings that were historically reserved for institutional investors.
Investors considering participation should be aware that share prices can go down as well as up, and the value of investments can fluctuate. It is advisable to conduct thorough due diligence and consider independent financial advice before making any investment decisions. The offer is expected to close shortly, with specific timings to be confirmed by Cirata and PrimaryBid.